Hotel Sector

The pricing range for Juniper's initial public offering (IPO) is set at ₹342 to ₹360 for each equity share

The company aims to raise ₹1800 crore through the issuance of fresh shares only.

As of December 30, Yum Restaurants India owned 5 crore shares of Devyani International.

The stake was transacted at a floor price of ₹164 per share

Proceeds from the IPO will primarily be used to repay a debt of ₹1,500 Crore

The major hotel firm announced the opening of a new hotel, Park Inn, in January 2024

EBIDTA margin is at 18.3%, compared to the previous year's 19.6%

Hotels business comprises 20% of ITC’s invested capital but only ~3% of Ebit. Excluding hotels, FY23 pre-tax ROIC would increase by 17%.

ITC will retain about 40% stake, with the remaining 60% held by the new entity's shareholders proportionate to their current shareholding in ITC.

The surge in stocks was triggered by reports indicating that the company has initiated the demerger process for its hotel business.